Corporate Social Responsibility and Its Effects on Brand Trust in Bank: Evidence from Nigeria

Abstract

The purpose of this study is to determine how corporate social responsibility (CSR) affects consumer trust in the banking industry. The study's emphasis is on CSR's four primary facets: economic, legal, ethical, and philanthropic. A model was used in this study to demonstrate the effects of several CSR elements on brand trust. A questionnaire was distributed to 400 bank clients, and 397 responses were received, valid and entered for descriptive and cause effects as the method of gathering primary data from respondents for analysis. The results showed that clients view CSR initiatives as a key component when engaging with banks. When banks engage in these activities, their brand trust is strengthened, and CSR activities and brand trust have statistically been linked in favorable and substantial ways. Customers of banks have different perceptions of the relevance of these activities. The findings would be enhanced by a larger sample size, the inclusion of more stakeholders, such as employees and managers, and the replication of the study in other nations. In order to improve their corporate reputation, banks are encouraged to take into account the study's variables in their operations and promote CSR. The topic of CSR has been covered in a lot of research, but only a small number of them focus on the banking industry and the Dala Kano, notably in Nigeria. For a better understanding of CSR initiatives and their implications on brand trust, this study recommends further research in the field.